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harry reid warned it will be tough to reach a deal to avoid the fiscal cliff before christmas. we all note deadline, december 31. take a look at how we're finishing the day. the dow jones industrial average up about 80 points today. it was higher, much higher than 100 points earlier today, up two-thirds of 1%. volume on the light side this afternoon. nasdaq composite picked it up. technology up better than 1%. s&p 500 also on the upswing. markets maintaining steady gains all day long. david kudlow and bob pisani and barbara from the street. welcome to all of you. what about coming off the best levels? >> hitting search-week highs. 13,245 is where we ended the night of election and waiting for it to settle out. 13,248, so we are exactly where we were when the elections closed. i think the important thing is as long as there is some indication that they are talking the markets are holding up very well. i think the concern is after a deal happens, i think we'll have it, what will happen after, that and a lot of people are worried now that austerity is coming. that's a negative for stocks
and small businesses. >> i've got to ask you. we've got a fiscal cliff meeting deal here sitting t 50% that we get a deal done. where would you put it at? >> i'm probably more optimistic about that. i'm probably more in the 60/40 range. the speaker's a good negotiator. i think honestly from position of strength on a lot of these things. i think the president takes his job seriously too. going over the fiscal cliff is not good for anyone. it bothers me sometimes if i hear people on both the left and the right entertain this is something that might be good politics. may be good politics for somebody, but it's bad economics for the american economy and more important for people looking for a job and people trying to hold on to a job. >> last question. i want to go back to the premise that you and other republican members of the house would be willing to allow that top tier tax rate to go higher. you know, speaker boehner's argument all this time is that it doesn't effect just those top-earning americans, but it also effects the small business owners in this country. the job creators in t
are out there on this fiscal cliff story? we seem to feel that there's a deal in the air. why else do we see such optimism today? rick? >> oh, for me? i'm sorry. i'll tell you what, maria, i'm not sure what's going on in washington. i'm not sure who those republicans are. i'm not so sure on whether the fiscal conservatives in the party know something about some big reforms on medicare and medica medicare, social security is, any of the retirement or tax issues, but i'll tell you this. i think that all these stories aren't necessarily going lead us to the truth. i personally have a very size way i'm approaching this. the president is supposed to leave for a 21-day vacation in hawaii on december 17th. where he is on december 18th will tell me, and i think the markets will pay attention. i find it hard to believe, and i agree with bill and many, who are very not amused by the house taking their long weekend. i'm sure that the president would have no intentions of leaving until these issues are resolved. i think the market is being kind, but i think it's a timing issue. >> yeah, i think that
cliff is not the answer. a bipartisan approach in washington to get it done. >> we need a deal. we need to rise above. we have fiscal cliff for what may happen at the end of the year. we need a term for what happens if we get back up. phil fiscal grinds, fiscal ladder. i don't know. >> thank you both for joining us. >>> so much for november's better than expected jobs numbers. the former head of president bush's council of economic advisers says the data may not be all it is cracked up to be. he's next. >>> and then later, laura tyson, former head of president clinton's council of economic advisers will weigh in on that and where things snand d.c. as we get closer to those automatic tax hikes and spending cuts. >>> plus, 401(k) is not okay. some news that might worry everyone who's banking on a 401(k) for their retirement. keep it here to find out more. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education
on wall street modestly higher today i did spite no sign of a deal on the fiscal cliff. take a look how we're settling out this thursday afternoon on wall street. the industrial average at 13,074. the s&p up just a fraction. will the markets get a boost from another cash infusion? ben pace says he's expecting the federal reserve to announce another round of stimulus at the meeting next week. is that what the markets really want right now? ben pace joins me along with chris heize and rick santelli. ben, let's talk fed policy. you think the fed announces qe-4 next week? >> i think it's the fact the twist operation is ending at the ends of the year, and they don't feel compelled to incrementally tighten that. that means it has to be replaced. that's the qe-4, the fact they'll continue to buy to continue to be just as easy as they've been since the september 16th qe- 3 announcement. >> so you think it's a continuation. what's the impact on the market, do you think? is it priced in? are we expecting that? what do you think? >> i think it's generally priced in. the thing that concerns me the mos
before the best deal the middle class in this country is going to get is if we go over the fiscal cliff. here's what will happen if we don't. here's what the compromise will do. there will be a small tax increase on people who could pay more. there will be no tax increase on middle class people fine in the short run and not long run because we can't about the budget without tax increases. the pentagon will get more money. this is note a good deal -- when -- i'll tell you what happens in the deal. the republicans get a good deal, the democrats are going to get a good deal, and the american people get screwed once again. this is not the right way to do it. we need to deal with the deficit now. this will take a big $4 trillion -- $7.3 trillion over ten years bite out of deficit. that is a significant amount of money. we have to stop kicking the can down the road. the politicians made a deal. now they should stick to it. >> it feels like we're going to be in for a significant period of real austerity like we haven't felt in decades. >> this is not real austerity. >> we've had the worst econ
Search Results 0 to 5 of about 6